the congressional budget office says that limit known as the debt ceiling needs to be raised. otherwise, it warns, the us treasury will be unable to pay its bills sometime betweenjuly and september what is known as a debt default. the reason it needs to borrow more is to pay for things it has already committed to doing, and to meet its debt payments. borrowing more to pay off existing debts might sound odd but government finances do not work like yours and mine. let s get into this in a little bit more detail. this point about the debt ceiling being raised i mean, every year there seems to be this brinksmanship, and no one wants to see the us default, whichever side of the aisle they sit on. it s just about who can extract more of what they want, isn t it? they want, isn t it? that s absolutely they want, isn t it? that s
and he said that the fed knows how to deal with it. at the end of the day, the fed sounds more encouraged by inflation, the fed is slowing the pace of rate hikes. their job isn t done here, but it does feel as though we are much closer to the end of this rate hiking campaign than the beginning. matt egan there for us. and it seems things could get worse for some u.s. retailers. bed bath and beyond is closing nearly 90 locations. wall street journal reports that the company failed to make debt payments totaling more than $28 million due on wednesday. bed bath & beyond oig is no stranger to closures. since last february it announced the closure of more than 200 stores. a rescue operation is ongoing in eastern ukraine in the citscity where at least two
expensive and more of a burden for them to try and repay. them to try and repay. i think what we are seeing them to try and repay. i think what we are seeing with them to try and repay. i think what we are seeing with the them to try and repay. i think what we are seeing with the dollar - them to try and repay. i think what we are seeing with the dollar is - we are seeing with the dollar is reflecting on currencies is across the world, if you look at the uk, we have very high inflation, more than many other g7 developed economies, a lot is simulated by us spending so it is no surprise this is having, you know, hard line effects on those with weaker currencies and you can see that is the obvious impact of that, and so much of what is going on, with global inflation, interest rates is still the unwinding of the coronavirus pandemic, that economies are gearing up again, a lot of big governments are spending a lot of money, notjust in day to day government spending but in terms of s
to pay the bills. they will need to reach a deal with the new house republican majority by early june. otherwise, the u.s. will default on debt payments for the first time ever. at the white house yesterday, president kateri discussed a potential meeting between the president and speaker mccarthy. the president is looking forward to meeting with speaker mccarthy. we have been very clear about where we stand when it comes to the debt ceiling. i have been clear, the president has been clear. it should not be used as a political football. we have nbc news correspondent standing by for us. julie, what more can you tell us about this debt ceiling flight? they immediately responded on twitter to that invitation. president biden, i accept your invitation to sit in and